Deutsche Bank CEO Sewing promotes capital markets union
Published: Thursday, Jan 18th 2024, 18:50
Zurück zu Live Feed
The head of Deutsche Bank, Christian Sewing, has called for a capital markets union at the World Economic Forum in Davos. This should provide companies with better financing options.
The economy faces massive investments in digitalization, artificial intelligence and climate protection in the coming years, Sewing said on Thursday. "I believe that companies that invest will be successful. The companies that don't focus on AI and sustainability will no longer be around in 10 or 15 years."
Currently, 70 percent of financing for German SMEs is provided by bank loans. The banks would not be able to cope with this in the future. In the USA, on the other hand, around 70 percent comes from the capital market, i.e. medium and long-term securities.
"And that's why we definitely need the European Capital Markets Union," emphasized Sewing. This is essentially about reducing bureaucratic hurdles between EU countries in order to give companies more opportunities to raise money.
©Keystone/SDA
German 
English 
French 
Spanish 
Arabic